Annual inflation sped up to 8.7% due to higher prices for key goods and services. Monthly growth of consumer prices increased, as well as many current indicators of sustainable price movements.
According to Bank of Russia estimates, proinflationary risks edged up. Given the current monetary policy stance, annual inflation will reduce to 5.0— 6.0% in 2022 to return to the target in the middle of 2023. Further on, annual inflation will stay close to 4%.
More information is available in the Bank of Russia’s information and analytical commentary Consumer Price Dynamics.
This news item was originally published by the Central Bank of the Russian Federation (CBR RU). For more information, please see the Source Link.